It’s the middle of March, and I have a several very large shoe boxes staring me in the face, which can only mean one thing. It’s tax time. While I am quite determined to tackle this tremendously fun task by Monday lest I go to jail and find my blogging privileges revoked, I can procrastinate a little longer. That’s what Danger Girl does.
What’s more fun than filing tax returns? Looking back at the real estate market that was February for the I-15 corridor — well, most of it, anyway. Here is a snapshot of activity is some of our favorite I-15 zip codes (and a couple of other zips that sneaked into my screen shot). Information is courtesy of the San Diego Association of Realtors. Data is from the Sandicor Multiple Listing Service for detached homes closing in February, 2010.
According to SDAR:
Median sales prices continue to rise slightly each month. The median sales price for detached homes increased 1.6 percent, while attached increased 2.4 percent since January. When comparing median sales price to February 2009, the increase is 10.4 percent for detached and 16.2 for attached. Overall, median sales price is up 14 percent compared to February of last year.
This statement reflects activity county-wide, and as we have discussed before, median sale price is but one way to look at things. Price per square foot is another, and this statistic reflects not only price tag but what buyers are getting for their money. The bag of chips may be cheaper, but what’s inside the bag?
Scripps Ranch Detached Homes
Feb. 2010: Median $/SF = $275
Feb. 2009: Median $/SF = $305
Jan. 2010: Median $/SF = $286
Jan. 2009: Median $/SF = $286
Granted, this is a small sample, and two months don’t make a year, but it seems that February buyers were getting better value than a year ago, price aside. Taking a look at Rancho Bernardo (92128), where we have more sales, we find this.
Rancho Bernardo (92128) Detached Homes
Feb. 2010: Median $/SF = $273
Feb. 2009: Median $/SF = $260
Jan. 2010: Median $/SF = $270
Jan. 2009: Median $/SF = $264
That’s a little better. So what does this mean? Are we stabilizing “for reals?” Or, are we just having a Spring fling on the heels of a sunseting home buyer tax credit, among other things?
Beats the heck out of me. I’ve got taxes to do.
I’ll be back on Monday, Form 1040 willing. Have a great weekend.